About the Loan / EMI Calculator
A free, instant calculator that shows your monthly payment, total interest, and full amortization schedule for any standard loan.
What it is
The Loan / EMI Calculator works out the monthly payment (EMI), total interest, and total repayment for any fixed-rate, amortizing loan. Enter your loan amount, annual interest rate, and term — results update instantly with no submit button required.
Everything runs in your browser. Your financial figures are never sent to a server, stored, or logged anywhere. Close the tab and the data is gone.
This tool is for general information and planning only, not financial advice. Actual loan terms, rates, and fees are set by your lender — always verify exact figures before committing to a loan.
Key features
Monthly EMI
Calculates the fixed monthly payment using the standard amortizing-loan formula, so you know what leaves your account each month.
Total interest & total repayment
Shows the full cost of borrowing — the total interest paid over the term and the grand total you repay (principal + interest).
Full amortization schedule
A month-by-month table breaking each payment into principal paid, interest charged, and remaining balance — so you can track exactly how your debt reduces.
Principal vs interest chart
A responsive SVG chart showing how the principal and interest portions of each payment shift over time — from mostly interest early on to mostly principal by the end.
How loan amortization works
An amortizing loan has a fixed monthly payment calculated so that equal instalments over the term pay off both the interest and the outstanding principal, leaving a zero balance at the end.
The EMI formula is: EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments.
Each month, interest is charged on the remaining balance (balance × r). The rest of the fixed EMI goes toward reducing the principal. Because the balance falls each month, the interest portion shrinks and the principal portion grows — a pattern visible in both the amortization table and the chart.
At 0% interest the formula simplifies to EMI = P ÷ n — a straight equal split of the principal across all periods.
Who it's for
Personal loan borrowers
Estimate the monthly cost and total interest before applying, and compare different amounts or terms at a glance.
Car buyers
Work out the monthly repayment on a car loan for different deposit amounts, rates, and terms to find what fits your budget.
Home loan planners
Estimate mortgage repayments and see how the term length dramatically changes the total interest paid over the life of the loan.
Students & learners
Understand how loan amortization works by adjusting variables and watching the schedule and chart update in real time.
Limitations
The calculator assumes a fixed interest rate for the full term and does not model fees, insurance, offset accounts, variable rates, balloon payments, or interest-only periods. Results are estimates for planning purposes — your lender's offer will include additional costs and conditions that affect the true cost of your loan.
Completely free
No sign-up, no rate limit, no premium tier. Calculate a 1-month loan or a 30-year mortgage — the tool handles both instantly. If you find it useful, sharing it with someone planning a loan is all we ask.